|
U.S. Economy contracted by -1.4 % in the first-quarter of 2022
GDP, U.S. Economy
Modified 2022-05-06T04:46:16-04:00
Goran Soko / CSIMarket.com Contributer
The Gross domestic product, the measurement of the nations output declined in the first-quarter of 2022, as government cuts its outlays and foreign demand for American products slows.
In the first-quarter of 2022 U.S. GDP decreased by -1.4 % to $24,383 billions, a decrease by $380 billions from $24,003 in the forth-quarter on the seasonally adjusted basis. The big stories for the first-quarter of 2022 were lower demand from foreign markets and government spending cuts.
The primary question for economists is whether the economy will continue to shrink or turn into recovery mode in the second-quarter.
The newly revised growth numbers reinforce the view that the economy remains in a very fragile state. Salaries and Worker wages grew by 2.02 % quarterly.
Gross National Product rose by 3.6 % in the past 12 months, . |
Spending by state and local governments went down -0.80 %. Federal spending dipped -5.90 %, including a -8.50 % drop in the volatile defense spending category. Spending by government at all levels fell by -2.70 %.
This is the third and final revision in the government's estimate of first-quarter of 2022 growth in goods and services. The government provides three estimates of economic growth each reflecting more complete information than the previous one.
In the first-quarter of 2022 real consumer spending was estimated to have increased at a 2.7 % annualized clip, spending bounced back after being a drag on first-quarter of 2022 growth, reported by the Commerce Department.
With estimated annual rate of $16,705 billions, seasonally adjusted in the forth-quarter, consumer spending accounts for 69.6 % of economic activity.
Excluding imports, final sales of goods and services purchased in the U.S. fell -0.6 % through the January-through-March of 2022 period.
• More on U.S. Real Gross Domestic Product
|
|
Contributions
to Percent Change in Real GDP |
|
1.83% |
0.43% |
-0.48% |
-0.80% |
|
|
|
|
|
|
|
|
|
|
|
Investments |
|
|
Investments have climbed by 2.30 % to $4,661 billions, despite the decrease in GDP on the seasonally adjusted basis, reported by the Commerce Department.
Business fixed investments increased at a 7.30 %, annual pace, investments in software and equipment rose 15.30 %, that gain in software and equipment spending could signal that businesses are expanding. Business investments contributed 0.43 percentage point to growth.
|
|
|
|
Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
I Quarter
2022
final |
IV Quarter
2021
rev. |
III Quarter
2021
adv. |
II Quarter
2021
final |
I Quarter
2021
rev. |
IV Quarter
2020
adv. |
| Gross domestic product (GDP) |
|
-1.4 % |
6.9 % |
2.1 % |
6.6 % |
6.4 % |
4.3 % |
|
Personal consumption expenditures |
|
2.7 % |
2.5 % |
1.7 % |
11.9 % |
11.4 % |
2.3 % |
| Goods |
|
-2.5 % |
0.4 % |
2.6 % |
13.7 % |
15.2 % |
-1.6 % |
| Durable goods |
|
4.1 % |
2.5 % |
-24.4 % |
11.3 % |
49.2 % |
-1.1 % |
| Nondurable goods |
|
4.3 % |
3.3 % |
7.6 % |
11.3 % |
4.2 % |
4.3 % |
| Services
|
|
-0.1 % |
1.1 % |
-8.4 % |
12.8 % |
26.6 % |
-1.4 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
2.3 % |
36.7 % |
11.6 % |
-4 % |
-3.4 % |
27.8 % |
| Fixed investment |
|
7.3 % |
2.7 % |
-1.1 % |
3.4 % |
12.1 % |
18.6 % |
| Nonresidential |
|
9.2 % |
2.9 % |
1.5 % |
9.3 % |
11.7 % |
13.1 % |
| Structures |
|
-0.9 % |
-8.3 % |
-5 % |
-5.4 % |
-2 % |
-6.2 % |
| Equipment &
software |
|
15.3 % |
2.8 % |
-2.4 % |
11.6 % |
15 % |
25.4 % |
| Residential |
|
2.1 % |
2.2 % |
-8.3 % |
-11.5 % |
13.1 % |
36.6 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
-5.9 % |
22.4 % |
-3 % |
6.6 % |
-2.1 % |
22.3 % |
| Goods |
|
-9.6 % |
23.4 % |
-5.8 % |
6.2 % |
-1.7 % |
31.1 % |
| Services |
|
3.8 % |
19.9 % |
3.7 % |
7.5 % |
-3.1 % |
5.2 % |
| Imports
|
|
17.7 % |
17.9 % |
5.8 % |
6.7 % |
9.5 % |
29.8 % |
| Goods |
|
20.5 % |
18.9 % |
-0.1 % |
4.1 % |
10.6 % |
31 % |
| Services |
|
4.1 % |
13.1 % |
41.5 % |
22.4 % |
3.7 % |
23.8 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
-2.7 % |
-2.6 % |
0.9 % |
-1.9 % |
5.7 % |
-0.8 % |
| Federal |
|
-5.9 % |
-4.3 % |
-4.9 % |
-5.2 % |
13.8 % |
-0.9 % |
| National defense |
|
-8.5 % |
-6 % |
-1.6 % |
-0.9 % |
-3.6 % |
4.8 % |
| Nondefense |
|
-2.2 % |
-2 % |
-9.3 % |
-10.6 % |
45 % |
-8.9 % |
| State & local |
|
-0.8 % |
-1.6 % |
4.7 % |
0.3 % |
0.8 % |
-0.8 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
-0.6 % |
1.5 % |
- % |
7.9 % |
9.2 % |
2.9 % |
| Gross domestic purchases |
|
1.7 % |
6.9 % |
3.2 % |
6.6 % |
7.7 % |
5.7 % |
| Final sales to domestic
purchasers |
|
2.6 % |
1.7 % |
1.1 % |
7.9 % |
10.5 % |
4.4 % |
| Gross national product
(GNP) |
|
- % |
6.9 % |
2.3 % |
6.6 % |
6 % |
4.2 % |
| Disposable personal income |
|
-2 % |
-5.6 % |
-4 % |
-31 % |
62 % |
-10.1 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
6.5 % |
14.5 % |
8.1 % |
13.2 % |
11 % |
6.3 % |
| Final sales of domestic product |
|
7.3 % |
8.7 % |
6 % |
14.8 % |
14.1 % |
5.1 % |
| Gross domestic purchases |
|
10.6 % |
8.8 % |
6.8 % |
14.4 % |
15 % |
6.2 % |
| Final sales to domestic purchasers |
|
11.5 % |
9.6 % |
6.8 % |
16.7 % |
15.6 % |
7.1 % |
| GNP |
|
- % |
14.5 % |
8.3 % |
13.3 % |
10.5 % |
6.2 % |
| Disposable personal income |
|
4.8 % |
0.4 % |
1 % |
-26.5 % |
68 % |
-8.8 % |
| |
|
|
|
|
|
|
Quarters seasonally adjusted
(Quarterly Y / Y, in %) |
I Quarter
2022
final |
IV Quarter
2021
rev. |
III Quarter
2021
adv. |
II Quarter
2021
final |
I Quarter
2021
rev. |
IV Quarter
2020
adv. |
| Gross domestic product (GDP) |
|
3.6 % |
5.5 % |
4.9 % |
12.2 % |
0.4 % |
-2.4 % |
|
Personal consumption expenditures |
|
4.7 % |
6.9 % |
7 % |
16.2 % |
1.8 % |
-2.7 % |
| Goods |
|
3.3 % |
7.8 % |
7.6 % |
14.5 % |
5.7 % |
4.1 % |
| Durable goods |
|
-2.6 % |
6.7 % |
6.3 % |
33.7 % |
27.5 % |
11.6 % |
| Nondurable goods |
|
6.8 % |
6.7 % |
7 % |
13.8 % |
-3.3 % |
-6.8 % |
| Services
|
|
1 % |
7.4 % |
7.1 % |
21 % |
12.9 % |
6.7 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
10.8 % |
9.6 % |
6.9 % |
20.8 % |
4.9 % |
3.7 % |
| Fixed investment |
|
3.1 % |
4.4 % |
8 % |
15.1 % |
5.2 % |
2.1 % |
| Nonresidential |
|
5.7 % |
6.6 % |
9 % |
13.3 % |
2.9 % |
-1.4 % |
| Structures |
|
-4.1 % |
-2.6 % |
-2.9 % |
-6.2 % |
-16.6 % |
-16.1 % |
| Equipment &
software |
|
6.8 % |
6.5 % |
12.1 % |
25.9 % |
11.3 % |
3.5 % |
| Residential |
|
-4 % |
-1.5 % |
5.4 % |
21.2 % |
12.8 % |
14.3 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
4.1 % |
4.9 % |
5.5 % |
18.3 % |
-9.3 % |
-10.9 % |
| Goods |
|
3 % |
5.3 % |
5.5 % |
27.2 % |
-3.7 % |
-3.6 % |
| Services |
|
6.6 % |
4 % |
5.7 % |
2.7 % |
-19.7 % |
-23.9 % |
| Imports
|
|
11.7 % |
9.6 % |
12.9 % |
30.5 % |
5.3 % |
-0.6 % |
| Goods |
|
10.5 % |
8.1 % |
10.7 % |
32.2 % |
10.3 % |
5.3 % |
| Services |
|
18.4 % |
17.9 % |
25.2 % |
22.2 % |
-15.9 % |
-24.1 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
-1.6 % |
0.1 % |
0.6 % |
-0.1 % |
0.6 % |
-0.5 % |
| Federal |
|
-5.2 % |
-1.1 % |
-0.7 % |
-0.8 % |
5.4 % |
2.4 % |
| National defense |
|
-4.4 % |
-3.7 % |
-0.9 % |
- % |
2 % |
2.9 % |
| Nondefense |
|
-6.2 % |
2.8 % |
-0.5 % |
-1.9 % |
10.4 % |
1.7 % |
| State & local |
|
0.6 % |
0.8 % |
1.5 % |
0.4 % |
-2.3 % |
-2.3 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
2.2 % |
4.6 % |
5.1 % |
11.3 % |
0.5 % |
-2.7 % |
| Gross domestic purchases |
|
4.7 % |
6.2 % |
5.9 % |
13.8 % |
2.1 % |
-1.2 % |
| Final sales to domestic
purchasers |
|
2.2 % |
4.6 % |
5.1 % |
11.3 % |
0.5 % |
-2.7 % |
| Gross national product
(GNP) |
|
- % |
5.5 % |
4.9 % |
12.4 % |
0.1 % |
-2.7 % |
| Disposable personal income |
|
-10.9 % |
-0.2 % |
-0.9 % |
-5 % |
16.4 % |
3.1 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales of domestic product |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Gross domestic purchases |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Final sales to domestic purchasers |
|
- % |
- % |
- % |
- % |
- % |
- % |
| GNP |
|
- % |
- % |
- % |
- % |
- % |
- % |
| Disposable personal income |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
U.S. Real Gross Domestic Product and Related Measures
GDP, U.S. Economy in Billions of U.S. dollars
Quarters seasonally adjusted
(At annual rates, in Billions of Dollars) |
I Q. 2022
final |
IV Q. 2021
rev. |
III Q. 2021
adv. |
II Q. 2021
final |
I Q. 2021
rev. |
IV Q. 2020
adv. |
| Gross domestic product
(GDP) |
|
24,382.7 |
24,002.8 |
23,187.0 |
22,731.4 |
22,061.5 |
21,494.7 |
|
Personal consumption expenditures |
|
16,705.1 |
16,314.2 |
15,952.4 |
15,675.9 |
15,070.1 |
14,537.0 |
| Goods |
|
5,808.3 |
5,650.8 |
5,505.9 |
5,527.4 |
5,218.9 |
4,852.4 |
| Durable
goods |
|
2,113.8 |
2,059.7 |
1,995.9 |
2,090.7 |
1,940.7 |
1,748.1 |
| Motor vehicles & parts |
|
724.9 |
699.4 |
668.1 |
757.5 |
663.4 |
587.0 |
| Furniture & household equipment |
|
488.8 |
474.4 |
469.0 |
473.3 |
448.3 |
403.5 |
| Other |
|
294.7 |
291.8 |
283.8 |
279.6 |
264.6 |
235.1 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
3,694.5 |
3,591.1 |
3,510.0 |
3,436.7 |
3,278.3 |
3,104.3 |
| Food off-premises consumption |
|
1,299.1 |
1,268.8 |
1,247.0 |
1,221.9 |
1,186.4 |
1,138.7 |
| Clothing
& shoes |
|
487.6 |
481.4 |
480.8 |
477.1 |
419.1 |
380.1 |
| Gasoline,
fuel, oil & other energy goods |
|
451.1 |
415.8 |
377.1 |
346.6 |
303.2 |
251.0 |
| Other |
|
1,456.7 |
1,425.0 |
1,405.1 |
1,391.1 |
1,369.6 |
1,334.6 |
| |
|
|
|
|
|
|
|
| Services |
|
10,896.8 |
10,663.4 |
10,446.5 |
10,148.5 |
9,851.2 |
9,684.6 |
| Housing |
|
10,371.9 |
10,157.9 |
9,969.2 |
9,661.6 |
9,372.7 |
9,198.6 |
| Food services |
|
1,136.4 |
1,107.7 |
1,082.1 |
1,029.6 |
866.5 |
815.9 |
| Electricity & gas |
|
2,897.8 |
2,833.4 |
2,789.3 |
2,751.6 |
2,847.8 |
2,819.3 |
| Financial services |
|
1,327.5 |
1,305.7 |
1,276.1 |
1,280.2 |
1,261.3 |
1,233.8 |
| Transportation |
|
490.6 |
478.6 |
457.9 |
409.4 |
371.9 |
364.6 |
| Medical
care |
|
2,658.4 |
2,608.2 |
2,578.5 |
2,515.7 |
2,465.0 |
2,458.0 |
| Recreation |
|
567.3 |
551.9 |
513.0 |
490.7 |
438.4 |
403.6 |
| Other |
|
1,293.8 |
1,272.4 |
1,272.5 |
1,184.4 |
1,122.0 |
1,103.4 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
4,661.3 |
4,527.2 |
4,090.7 |
3,924.2 |
3,920.0 |
3,926.3 |
| Fixed investment |
|
4,454.8 |
4,277.8 |
4,155.9 |
4,100.2 |
4,012.0 |
3,866.2 |
| Nonresidential |
|
3,278.9 |
3,154.9 |
3,072.8 |
3,029.5 |
2,960.7 |
2,875.9 |
| Structures |
|
625.9 |
601.2 |
580.3 |
569.1 |
551.6 |
548.8 |
| Equipment & software |
|
1,377.4 |
1,307.7 |
1,277.0 |
1,268.9 |
1,315.2 |
1,266.2 |
| Information processing equipment & software |
|
522.3 |
492.1 |
461.9 |
461.1 |
484.7 |
456.1 |
| Computers & peripheral equipment |
|
106.4 |
102.1 |
94.9 |
90.2 |
84.5 |
83.5 |
| Software |
|
525.5 |
518.3 |
513.5 |
503.2 |
457.7 |
440.6 |
| Other |
|
643.7 |
625.6 |
607.1 |
598.1 |
551.7 |
536.8 |
| Industrial equipment |
|
335.7 |
310.1 |
294.9 |
284.8 |
272.1 |
264.7 |
| Transportation equipment |
|
201.1 |
205.8 |
221.6 |
230.5 |
277.2 |
268.4 |
| Other equipment |
|
318.3 |
299.6 |
298.5 |
292.6 |
281.3 |
277.0 |
| Residential |
|
1,175.9 |
1,122.9 |
1,083.1 |
1,070.8 |
1,051.3 |
990.3 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
206.5 |
249.3 |
-65.3 |
-176.1 |
-92.0 |
60.1 |
| Farm |
|
-11.3 |
-8.5 |
-7.5 |
-3.0 |
3.6 |
5.3 |
| Nonfarm |
|
217.8 |
257.9 |
-57.7 |
-173.1 |
-95.6 |
54.8 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-1,178.2 |
-971.4 |
-939.7 |
-884.7 |
-875.3 |
-803.7 |
| Exports |
|
2,723.1 |
2,654.5 |
2,500.5 |
2,455.6 |
2,300.9 |
2,210.1 |
| Goods |
|
1,927.1 |
1,877.0 |
1,749.1 |
1,726.0 |
1,616.9 |
1,530.6 |
| Services |
|
795.9 |
777.4 |
751.4 |
729.7 |
684.0 |
679.5 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,901.2 |
3,625.9 |
3,440.2 |
3,340.3 |
3,176.2 |
3,013.8 |
| Goods |
|
3,290.7 |
3,027.1 |
2,859.0 |
2,818.0 |
2,707.9 |
2,553.4 |
| Services |
|
610.6 |
598.8 |
581.2 |
522.3 |
468.3 |
460.4 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
4,194.4 |
4,132.9 |
4,083.7 |
4,016.0 |
3,946.7 |
3,835.2 |
| Federal |
|
1,568.9 |
1,566.2 |
1,562.0 |
1,563.3 |
1,557.1 |
1,493.4 |
|
National defense |
|
905.9 |
909.0 |
910.9 |
904.1 |
905.9 |
904.4 |
|
Consumption expenditures |
|
707.7 |
707.6 |
710.3 |
710.0 |
712.8 |
712.0 |
|
Gross investment |
|
198.2 |
201.5 |
200.6 |
194.1 |
193.0 |
192.4 |
|
Nondefense |
|
663.0 |
657.1 |
651.1 |
659.2 |
651.2 |
588.9 |
|
Consumption expenditures |
|
489.6 |
488.1 |
486.0 |
497.9 |
493.5 |
430.9 |
|
Gross investment |
|
173.4 |
169.1 |
165.0 |
161.2 |
157.8 |
158.1 |
| State and local |
|
487.6 |
481.4 |
2,521.7 |
477.1 |
2,389.6 |
2,341.7 |
| Consumption
expenditures |
|
2,176.1 |
2,119.3 |
2,079.7 |
2,015.3 |
1,935.6 |
1,883.6 |
| Gross
investment |
|
449.4 |
447.4 |
442.0 |
437.4 |
454.0 |
458.1 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
24,176.2 |
23,753.5 |
23,252.3 |
22,907.4 |
22,153.5 |
21,434.7 |
| Gross domestic purchases |
|
25,560.8 |
24,974.2 |
24,126.7 |
23,616.0 |
22,936.8 |
22,298.5 |
| Final sales to domestic purchasers |
|
25,354.3 |
24,724.9 |
24,192.0 |
23,792.1 |
23,028.8 |
22,238.4 |
| Gross national product |
|
- |
24,279.7 |
23,435.3 |
22,976.8 |
22,255.7 |
21,704.6 |
| Net domestic product |
|
20,246.0 |
19,991.0 |
19,291.8 |
18,944.8 |
18,383.3 |
17,874.0 |
Annual U.S. Real Gross Domestic Product and Related Measures
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Quarters seasonally adjusted
(At annual rates Q / Q, in %) |
2021
|
2020
|
2019
|
2018
|
2017
|
2016
|
| Gross domestic product (GDP) |
|
5.7 % |
-3.4 % |
2.2 % |
2.9 % |
2.2 % |
1.5 % |
|
Personal consumption expenditures |
|
7.9 % |
-3.8 % |
2.4 % |
2.6 % |
2.5 % |
2.7 % |
| Goods |
|
9.1 % |
3.1 % |
3.1 % |
2.8 % |
2.1 % |
2.8 % |
| Durable goods |
|
12.2 % |
4.6 % |
3.7 % |
3.7 % |
3.7 % |
3.7 % |
| Nondurable goods |
|
5.8 % |
-7.5 % |
1.8 % |
2.1 % |
2 % |
2.3 % |
| Services
|
|
9.8 % |
-5.5 % |
1.7 % |
5.9 % |
4.8 % |
-1.6 % |
| |
|
|
|
|
|
|
|
Gross private domestic investment |
|
18.1 % |
7.7 % |
4.8 % |
5.5 % |
6.8 % |
5.5 % |
| Fixed investment |
|
7.4 % |
-5.3 % |
2.9 % |
6.9 % |
5.3 % |
-0.6 % |
| Nonresidential |
|
-8 % |
-12.5 % |
-0.6 % |
5 % |
4.6 % |
-4.1 % |
| Structures |
|
13.1 % |
-8.3 % |
2.1 % |
7.4 % |
6.1 % |
-3.4 % |
| Equipment &
software |
|
10 % |
2.8 % |
6.4 % |
7.5 % |
4.6 % |
6.3 % |
| Residential |
|
9.2 % |
6.8 % |
-1.7 % |
-0.3 % |
3.3 % |
5.5 % |
| Change in private
inventories |
|
- % |
- % |
- % |
- % |
- % |
- % |
| |
|
|
|
|
|
|
|
Net exports of goods and services |
|
|
|
|
|
|
| Exports
|
|
4.5 % |
-13.6 % |
-0.1 % |
4 % |
3 % |
-0.3 % |
| Goods |
|
7.6 % |
-10.2 % |
-0.1 % |
4.7 % |
3.3 % |
0.3 % |
| Services |
|
-1.5 % |
-19.8 % |
-0.1 % |
2.6 % |
2.5 % |
-1.5 % |
| Imports
|
|
14 % |
-8.9 % |
1.1 % |
4.5 % |
4.6 % |
1.3 % |
| Goods |
|
14.6 % |
-5.6 % |
0.5 % |
4.8 % |
4.6 % |
0.9 % |
| Services |
|
11.5 % |
-22.6 % |
3.7 % |
3.3 % |
4.4 % |
3.1 % |
| |
|
|
|
|
|
|
| Govt. consumption exp.
& gross investment |
|
0.5 % |
2.5 % |
2.3 % |
1.5 % |
-0.1 % |
0.8 % |
| Federal |
|
0.6 % |
5 % |
4 % |
2.6 % |
0.7 % |
- % |
| National defense |
|
-0.9 % |
2.9 % |
5.6 % |
3.4 % |
0.7 % |
-0.7 % |
| Nondefense |
|
2.8 % |
8.1 % |
1.8 % |
1.5 % |
0.8 % |
1.2 % |
| State & local |
|
0.4 % |
0.9 % |
1.3 % |
0.8 % |
-0.5 % |
1.2 % |
| |
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
| Final sales of domestic product |
|
5.3 % |
-2.9 % |
2.2 % |
2.7 % |
2.2 % |
1.9 % |
| Gross domestic purchases |
|
6.9 % |
-3 % |
2.3 % |
3 % |
2.5 % |
1.7 % |
| Final sales to domestic
purchasers |
|
6.5 % |
-2.5 % |
2.3 % |
2.9 % |
2.5 % |
2.1 % |
| Gross national product
(GNP) |
|
5.7 % |
-3.6 % |
2 % |
2.9 % |
2.3 % |
1.4 % |
| Disposable personal income |
|
2.1 % |
6.2 % |
2.2 % |
2.9 % |
2.6 % |
1.4 % |
| |
|
|
|
|
|
|
| Current-dollar measures: |
|
|
|
|
|
|
| GDP |
|
10.1 % |
-2.2 % |
4 % |
5.2 % |
4.2 % |
2.8 % |
| Final sales of domestic product |
|
9.8 % |
-1.6 % |
4 % |
5 % |
4.2 % |
2.1 % |
| Gross domestic purchases |
|
11 % |
-1.9 % |
3.9 % |
5.3 % |
4.2 % |
2.5 % |
| Final sales to domestic purchasers |
|
10.8 % |
-1.3 % |
3.9 % |
5.1 % |
4.8 % |
3.5 % |
| GNP |
|
10.1 % |
-2.4 % |
3.9 % |
5.2 % |
4.3 % |
2.7 % |
| Disposable personal income |
|
6.1 % |
7.5 % |
3.7 % |
5 % |
4.4 % |
2.6 % |
| |
|
|
|
|
|
|
Annual U.S. GDP
(In Billions of Dollars) |
2021
|
2020
|
2019
|
2018
|
2017
|
2016
|
| Gross domestic product
(GDP) |
|
22,996.1 |
20,893.7 |
21,433.2 |
21,427.1 |
20,580.2 |
18,624.5 |
|
Personal consumption expenditures |
|
15,741.6 |
14,047.6 |
14,544.6 |
14,561.2 |
13,998.7 |
12,820.7 |
| Goods |
|
5,481.4 |
4,653.8 |
4,512.2 |
4,505.3 |
4,364.8 |
4,121.4 |
| Durable
goods |
|
2,026.2 |
1,616.4 |
1,534.4 |
1,526.6 |
1,475.6 |
1,411.0 |
| Motor vehicles & parts |
|
700.1 |
541.3 |
521.8 |
531.2 |
521.5 |
480.8 |
| Furniture & household equipment |
|
469.7 |
390.4 |
357.4 |
353.7 |
341.2 |
325.2 |
| Other |
|
279.2 |
208.5 |
221.7 |
224.1 |
218.3 |
385.5 |
| |
|
|
|
|
|
|
|
| Nondurable goods |
|
3,455.2 |
3,037.4 |
2,977.9 |
2,978.6 |
2,889.2 |
2,710.4 |
| Food off-premises consumption |
|
1,234.8 |
1,146.7 |
1,025.7 |
1,032.4 |
1,003.4 |
915.1 |
| Clothing
& shoes |
|
468.7 |
362.4 |
403.5 |
398.9 |
391.5 |
393.7 |
| Gasoline,
fuel, oil & other energy goods |
|
359.4 |
246.8 |
335.4 |
338.0 |
349.6 |
273.7 |
| Other |
|
1,392.3 |
1,281.5 |
1,213.3 |
1,209.3 |
1,144.6 |
1,126.1 |
| |
|
|
|
|
|
|
|
| Services |
|
10,260.1 |
9,393.7 |
10,032.4 |
10,055.9 |
9,633.9 |
8,699.3 |
| Housing |
|
9,777.2 |
8,872.9 |
9,593.2 |
9,606.6 |
9,190.9 |
8,340.4 |
| Food services |
|
1,027.0 |
801.5 |
999.5 |
1,019.2 |
973.3 |
849.2 |
| Electricity & gas |
|
2,776.7 |
2,668.1 |
2,681.2 |
2,670.2 |
2,567.2 |
3,022.1 |
| Financial services |
|
1,270.8 |
1,196.3 |
1,176.1 |
1,156.1 |
1,111.0 |
984.7 |
| Transportation |
|
430.1 |
363.4 |
483.4 |
478.1 |
462.2 |
392.5 |
| Medical
care |
|
2,545.3 |
2,308.4 |
2,450.8 |
2,467.9 |
2,352.6 |
2,163.7 |
| Recreation |
|
502.7 |
416.5 |
580.4 |
586.9 |
563.2 |
492.6 |
| Other |
|
1,224.6 |
1,118.5 |
1,221.8 |
1,228.4 |
1,161.3 |
1,126.1 |
| |
|
|
|
|
|
|
|
|
Gross private domestic investment |
|
4,120.0 |
3,637.8 |
3,751.2 |
3,744.2 |
3,628.3 |
3,057.2 |
| Fixed investment |
|
4,139.8 |
3,697.4 |
3,702.1 |
3,675.9 |
3,573.6 |
3,022.1 |
| Nonresidential |
|
3,053.7 |
2,799.6 |
2,895.0 |
2,878.4 |
2,786.9 |
2,316.3 |
| Structures |
|
580.2 |
597.2 |
650.2 |
626.6 |
633.2 |
516.2 |
| Equipment & software |
|
1,274.9 |
1,123.9 |
1,241.0 |
1,240.9 |
1,222.6 |
1,043.9 |
| Information processing equipment & software |
|
471.9 |
413.9 |
397.2 |
412.7 |
408.6 |
303.9 |
| Computers & peripheral equipment |
|
93.7 |
87.4 |
90.7 |
93.0 |
89.4 |
73.1 |
| Software |
|
503.9 |
453.4 |
411.2 |
414.5 |
380.0 |
230.8 |
| Other |
|
600.9 |
537.7 |
501.9 |
503.4 |
461.7 |
230.8 |
| Industrial equipment |
|
287.6 |
241.7 |
260.9 |
252.5 |
245.9 |
225.0 |
| Transportation equipment |
|
221.2 |
206.0 |
310.3 |
301.6 |
301.8 |
286.7 |
| Other equipment |
|
294.3 |
262.3 |
272.5 |
274.1 |
266.3 |
228.3 |
| Residential |
|
1,086.1 |
897.8 |
807.1 |
797.5 |
786.7 |
705.9 |
| |
|
|
|
|
|
|
|
| Change
in private inventories |
|
-19.9 |
-59.6 |
49.1 |
68.3 |
54.7 |
35.1 |
| Farm |
|
-5.4 |
-6.0 |
-14.5 |
-7.6 |
-7.8 |
-0.6 |
| Nonfarm |
|
-14.4 |
-53.6 |
63.6 |
75.8 |
62.5 |
35.7 |
| |
|
|
|
|
|
|
|
| Net
exports of goods & services |
|
-918.2 |
-651.2 |
-610.5 |
-631.7 |
-638.2 |
-521.2 |
| Exports |
|
2,478.3 |
2,123.4 |
2,514.8 |
2,504.2 |
2,510.3 |
2,214.6 |
| Goods |
|
1,740.5 |
1,416.6 |
1,636.7 |
1,643.8 |
1,661.3 |
1,446.0 |
| Services |
|
737.8 |
706.8 |
878.0 |
860.4 |
848.9 |
768.5 |
| |
|
|
|
|
|
|
|
| Imports |
|
3,396.5 |
2,774.6 |
3,125.2 |
3,136.0 |
3,148.5 |
2,735.8 |
| Goods |
|
2,850.4 |
2,309.2 |
2,525.6 |
2,530.1 |
2,570.6 |
2,224.2 |
| Services |
|
546.1 |
465.4 |
599.6 |
605.9 |
577.9 |
511.6 |
| |
|
|
|
|
|
|
|
| Govt. consumption exp. & investment |
|
4,052.7 |
3,859.5 |
3,747.9 |
3,753.5 |
3,591.5 |
3,267.8 |
| Federal |
|
1,565.0 |
1,501.8 |
1,419.2 |
1,423.5 |
1,347.3 |
1,231.5 |
|
National defense |
|
905.3 |
881.3 |
852.4 |
846.7 |
793.6 |
728.9 |
|
Consumption expenditures |
|
708.8 |
700.5 |
676.5 |
677.9 |
637.4 |
585.2 |
|
Gross investment |
|
196.4 |
180.9 |
175.9 |
168.8 |
156.2 |
143.7 |
|
Nondefense |
|
659.7 |
598.8 |
576.8 |
540.9 |
516.2 |
502.6 |
|
Consumption expenditures |
|
496.1 |
461.0 |
420.8 |
436.1 |
419.5 |
379.4 |
|
Gross investment |
|
163.6 |
159.5 |
146.0 |
140.6 |
134.2 |
123.3 |
| State and local |
|
2,487.7 |
2,357.8 |
2,328.7 |
2,330.0 |
2,244.2 |
2,036.3 |
| Consumption
expenditures |
|
2,045.4 |
1,916.5 |
1,897.8 |
1,904.5 |
1,847.4 |
1,693.6 |
| Gross
investment |
|
442.3 |
441.2 |
431.0 |
425.4 |
396.8 |
342.7 |
| |
|
|
|
|
|
|
|
| Addenda: |
|
|
|
|
|
|
|
| Final sales of domestic product |
|
23,015.9 |
20,953.3 |
21,384.1 |
21,358.8 |
20,525.5 |
18,589.4 |
| Gross domestic purchases |
|
23,914.3 |
21,544.9 |
22,043.7 |
22,058.8 |
21,218.4 |
19,145.7 |
| Final sales to domestic purchasers |
|
23,934.1 |
21,604.5 |
21,994.6 |
21,990.6 |
21,163.7 |
19,110.6 |
| Gross national product |
|
23,248.5 |
21,116.1 |
21,702.9 |
21,723.2 |
20,848.1 |
15,842.8 |
| Net domestic product |
|
19,148.2 |
17,317.8 |
18,012.3 |
17,964.1 |
17,288.8 |
18,624.5 |
|
